Management believes these measures help readers to better analyze results, enabling better comparability of the Corportation’s results from one period to another and with peers.Free cash flow is defined as cash flows from operating activities less net additions to PP&E and intangible assets.
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Notwithstanding the impact of reduced activity and travel restrictions in the second half of March due to the global COVID-19 pandemic, Bombardier reported consolidated revenues of $3.7 billion in the quarter, increasing by 8% and 5% year-over-year at Aviation and Transportation, respectively, and excluding currency translation impact. Management uses free cash flow as a measure to assess both business performance and overall liquidity generation.Reconciliations of non-GAAP financial measures to the most comparable IFRS financial measures are provided in the tables hereafter, except for the following reconciliation:Bombardier to Report Second Quarter 2019 Financial Results on ... Consortium of Bombardier Transportation, Orascom Construction ...
MONTRÉAL, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) announced today its financial results for the second quarter of 2020 …
The other, the 7.45-billion euro ($11.8-billion) sale of its train business to France’s Alstom SA, received European regulatory approval last week and should close in the first half of 2021, the company said.For investors, unloading the trains business probably can’t come soon enough.Bombardier continues to struggle to execute several major rail contracts, taking an additional charge of US$435-million in the latest quarter related to what it called “incremental engineering, certification and retrofit costs” on a number of nearly-complete projects that are mainly in the U.K. and Germany.
Free cash flow performance was solid across aerospace segments, offsetting a softer performance at Transportation. “It is still unclear how the pandemic will unfold and what path the economic recovery will take.”Mr.
The exclusion of certain items from non-GAAP performance measures does not imply that these items are necessarily non-recurring.
This is a space where subscribers can engage with each other and Globe staff.We aim to create a safe and valuable space for discussion and debate. One, the sale of a plane parts-making business to Spirit AeroSystems, is on track to close this fall, Bombardier said Thursday. Martel, who joined Bombardier in April in the throes of a global health emergency, has reset production rates and laid off 2,500 aerospace workers as he tries to steer the company through the tail end of a dramatic reshaping that will see it sell or shut down assets that represented 65 per cent of its former revenue. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. By that measure, analysts were expecting the company to report profit before interest, taxes, depreciation and amortization of US$39.3-million.
That means:Comments that violate our community guidelines will be removed.© Copyright 2020 The Globe and Mail Inc. All rights reserved. Over two third of this charge is expected to impact free cash flows for 2020, Bombardier said.The company is one of the world’s largest makers of rail equipment and continues to win new orders to strengthen a US$33.7-billion backlog. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. The industrial manufacturer also shipped 40 per cent fewer jets in the quarter as the coronavirus pandemic rages on.FILE PHOTO: A Bombardier aircraft is displayed at the Singapore Airshow at Changi Exhibition Center February 18, 2016.
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Bombardier second quarter deliveries slid from 35 in Q2 of 2019 to 20 in the most recent quarter and expects to keep a lower production rate for now.
“As we simultaneously address our legacy projects, complete Transportation’s reshaping to leverage its global scale, and ramp-up to deliver on our strong backlog, we are making the necessary investments to ensure we have the right resources and capacity to deliver stronger, sustainable financial performance in the years ahead.”Bombardier’s revenues for the quarter were $4.3 billion.
This non-GAAP cash flow measure does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. The company ended the quarter with cash on hand and available credit of about US$2.4-billion.“The next few quarters will be challenging and difficult to predict,” Bombardier Chief Executive Officer Eric Martel said on a conference call Thursday. For these reasons, a significant number of readers analyze the Corporation’s results based on these financial measures. Bombardier to Report Second Quarter 2019 Financial Results on ... Consortium of Bombardier Transportation, Orascom Construction ... Bombardier (TSX: BBD.B) today reported its second quarter 2019 results and provided updated guidance to reflect both the consolidation of the Company’s aerospace assets into a single reporting segment, Bombardier Aviation, and the additional investments and costs needed to complete late-stage, legacy projects and the transformation at Transportation by the end of 2020.Organic revenue growth in the second quarter was strong at 9% year-over-year, driven mainly by increased aircraft deliveries, solid aftermarket performance fueled by past investments to expand Business Aircraft’s service network and capabilities, as well as progress across the rail portfolio.